Interscale Content Hub – The landscape of cyber threats is evolving, with the various types of cyber attacks becoming more numerous and complex.
This evolution poses a unique set of challenges, particularly to sectors like Information Technology (IT) and Architecture, Engineering, and Construction (AEC), where the handling of sensitive data is commonplace.
This blog post offers a closer look at the kinds of cyber-attacks you must be aware of. But before too long, kindly check ‘Small Business Cybersecurity: Why Hackers Target You & How Fight Back’ to get insights into why cyber criminals love small businesses.
And in this article, we’ll break down the threats with real-world examples. Let’s dig in.
Malware-Based Attacks
Malware, or malicious software, encompasses a range of threats designed to disrupt, damage, or gain unauthorized access to systems. Let’s take a closer look at some of the most common and dangerous types.
Viruses
Like their biological counterparts, computer viruses infect legitimate files and programs, spreading as those files are opened or executed.
Their impacts vary but can include data corruption, system performance degradation, or the installation of other malicious payloads.
The infamous Melissa virus of 1999, for example, spread rapidly via email attachments and caused an estimated $80 million in damages worldwide, highlighting the potential severity of this threat.
Ransomware
Ransomware is one of the most devastating malware threats currently faced by organizations.
Ransomware encrypts critical files, rendering them inaccessible without the decryption key that attackers demand a ransom for, often in cryptocurrency.
The 2017 WannaCry attack demonstrated the global reach of ransomware, infecting hospitals and critical infrastructure across over 150 countries.
According to Sophos survey, it will cost companies an average of $1.82 million to recover from a ransomware attack in 2023, which doesn’t even include paying the ransom.
A trend in current years indicates a surge in ransomware volume, making proactive defense strategies more important than ever, especially in file-sharing-heavy industries like AEC.
Trojans
Trojans are particularly insidious, masquerading as harmless software to trick users into installation.
Once activated, they open the door for attackers, allowing remote access, data theft, system disruption, or the delivery of other malware.
The Emotet trojan, though temporarily disrupted, remains a reminder of how flexible and dangerous this malware category can be.
Web-Based Attacks
The immense benefits of the web also create a fertile landscape for cyberattacks.
Let’s delve into common web-based tactics attackers employ and how organizations can defend against them.
SQL Injection (SQLi)
SQLi attacks target a common weak point – the way websites communicate with their databases.
By injecting malicious SQL code into input fields like login forms or search bars, attackers can force the database to reveal confidential data.
The goal is often to manipulate the database to retrieve, alter, or delete data.
The 2008 Heartland Payment Systems breach, where over 130 million credit card numbers were stolen, underscores the potential impact of SQLi attacks.
In the AEC industry, where online platforms hold sensitive project information, robust defenses against SQLi are crucial.
The prevalence of such attacks underscores the need for stringent input validation and prepared statements in database management and web application development.
Cross-Site Scripting (XSS) Attacks
XSS involves a different injection; attackers sneak malicious scripts into otherwise trusted websites.
When unsuspecting users visit the infected site, these scripts execute, potentially stealing login credentials, hijacking their online sessions, or even redirecting them to harmful destinations.
XSS attacks are widespread, with OWASP (the Open Web Application Security Project) ranking them as a top web application risk.
The widespread use of XSS by attackers, including entry-level hackers, highlights the importance of robust content security policies and sanitizing user inputs.
AEC firms whose collaboration platforms or client portals have XSS vulnerabilities could face severe consequences, including compromised accounts and the exposure of crucial project data.
Drive-by Downloads
Drive-by downloads are more opportunistic—simply visiting a malicious or compromised website can trigger a malware download onto your device.
These attacks often target unpatched browsers, plugins, or operating systems.
While drive-by downloads have decreased due to improved browser security, the risks should not be ignored.
This threat vector emphasizes the critical need for up-to-date browsers and operating systems and the implementation of anti-exploit technologies.
Network Attacks to Disrupting Your Flow of Information
Attackers employ a variety of tactics to disrupt or undermine the network infrastructure that underpins an organization’s communications.
A common goal is to overwhelm systems with illegitimate traffic, such as in Denial of Service (DoS) or Distributed Denial of Service (DDoS) attacks.
In a DDoS attack, a vast network of compromised machines (known as a botnet) floods the target with requests, rendering it inaccessible to legitimate users.
The 2016 Dyn DNS attack demonstrated how widespread the consequences can be, disrupting popular websites like Twitter and Spotify.
Beyond denial of service, other network attack techniques aim to exploit vulnerabilities and directly intercept data in motion.
Man-in-the-Middle (MitM) attacks involve an attacker secretly placing themselves as an intermediary between two communicating devices, allowing them to eavesdrop, alter data, or inject malicious payloads.
Additionally, with tactics like ARP spoofing, attackers manipulate network protocols to trick devices into sending traffic through attacker-controlled systems, increasing the potential for data theft and network disruption.
The impact of network attacks can cascade through an organization. Downtime of critical systems creates operational hurdles and hurts client-facing services.
Sensitive data exposure, especially involving project details or customer information, can lead to a compliance crisis with regulatory bodies.
Ultimately, a severe breach negatively impacts reputation – eroding client trust and damaging relationships with partners and suppliers.
Phishing and Social Engineering to Exploit the Human Element
While technology plays a crucial role in cybersecurity, attackers often focus on exploiting a system’s weakest link–the human element.
Phishing and social engineering capitalize on psychological manipulation, luring unsuspecting individuals into compromising their security.
Phishing typically involves emails or fraudulent websites that mimic trustworthy sources to steal login credentials, financial information, or other sensitive data.
Verizon’s 2022 Data Breach Investigations Report highlights that phishing remains a significant threat, accounting for 25% of data breaches.
With heavy reliance on project collaboration, AEC firms are particularly susceptible to phishing attempts to steal project data or disrupt operations.
Attackers have developed sophisticated variations on these core techniques.
As an example, the emergence of AI in phishing adds a new layer of complexity, equipping attackers with tools capable of crafting deceptions with an unsettling degree of sophistication.
This technological evolution threatens to blur the lines between the genuine and the counterfeit, making traditional defenses seem increasingly porous.
Spear phishing meticulously targets specific individuals within a business, tailoring messages to their roles and interests for higher success rates.
Whaling attacks take this customization further and specifically focus on high-level executives, hoping to compromise accounts that access the most valuable company information or resources.
Meanwhile, you also must consider social engineering. This attack doesn’t always occur in the digital realm–it’s equally potent in the physical world.
Attackers might impersonate IT staff or delivery personnel to gain unauthorized access to a facility or manipulate employees through phone calls or text messages.
This tactic plays on established trust and helpfulness to overcome security barriers.
The fight against this tide requires more than technological fortifications; it demands a fundamental shift toward fostering a culture of vigilance and continuous education within organizations.
The transformative power of regular training sessions is evident, with the potential to significantly lower the susceptibility of individuals to phishing scams.
Insider Threats and Advanced Persistent Threats (APTs)
Insider threats and advanced persistent threats (APTs) highlight a complex challenge that extends beyond external adversaries, including those within an organization’s walls.
Insider threats can arise from multiple sources, including disgruntled employees seeking revenge, careless contractors with inadequate security practices, or even well-meaning employees whose accounts have been compromised.
The potential fallout is substantial – the Ponemon Institute’s 2022 Cost of Insider Threats Report highlights that the global average cost of an insider threat incident has reached a staggering $15.4 million.
Advanced Persistent Threats (APTs) pose an entirely different yet equally dangerous dilemma.
Unlike opportunistic cybercriminals, APTs are often carried out by highly skilled, well-funded groups with specific targets.
Businesses possessing valuable intellectual property, managing critical infrastructure, or holding sensitive information are particular victims.
These attacks are characterized by their sophisticated techniques– from exploiting previously unknown system vulnerabilities (zero-day attacks) to meticulously crafted social engineering schemes.
Once inside a network, the attackers remain undetected for extended periods, making exfiltration of data or disrupting operations disconcertingly easy.
Historical examples like the Stuxnet attack, which targeted Iranian nuclear facilities, demonstrate the real-world impact APTs can have.
What Are the Most Common Cyber Attacks?
The ever-evolving cyber threat landscape means businesses must stay vigilant against ransomware and phishing.
Ransomware’s ability to completely cripple operations by encrypting essential data and demanding payment for its release underscores the severity of this threat.
The 2023 SonicWall Cyber Threat Report highlighting a massive increase in ransomware volume is a stark reminder of why proactive defense strategies are essential.
Additionally, with its deceptive tactics and convincing lures, phishing is a key entry point for attackers.
Verizon’s 2022 Data Breach Investigations Report found a startling 25% of breaches involved phishing attacks, demonstrating how one successful phishing can lead to various compromises, such as the deployment of ransomware.
This highlights the need to consider how seemingly separate threats work together.
Cybersecurity leader Cisco offers a valuable breakdown of common cyberattacks. Their analysis reminds us of the diverse threats businesses face, ranging from malware types like trojans to network-focused attacks like Distributed Denial of Service (DDoS), and the importance of understanding zero-day exploits that target undiscovered vulnerabilities in software.
Then, you need to check ‘Cyber Security Tips for Small Business: The Overlooked Basic to Save You‘ to understand how to handle threats.
The Cybersecurity Challenge for Small Businesses
Do you ever feel pulled in multiple directions as a small business owner?
Focusing on your core business is crucial for growth, yet the constant threat of cyberattacks looms.
Staying informed of those risks, finding the right cybersecurity tools, and ensuring your team is vigilant require immense resources.
How can you maintain your competitive edge while safeguarding your valuable business data from online attackers?
Does the complexity of cybersecurity sometimes make it feel like an overwhelming distraction?
With all those challenges in mind, our cybersecurity support is designed to shoulder the burden, providing you with the expertise and tools necessary for proactive protection.
Can you imagine the peace of mind of having your systems monitored around the clock?
What would it mean for your business to have robust defenses and employees equipped with the knowledge to spot potential threats?
Don’t let cybersecurity worries hinder your company’s growth and potential.
Consider starting work with us, and we’ll handle those concerns while you focus on what you do best.
Let’s talk. Or, for first consideration, kindly visit our Interscale cybersecurity support page to learn how we can work together to safeguard your business.
Conclusion
We’ve discussed various cyber threats, but is simply understanding them enough?
In an ever-changing digital world, your defenses must adapt to stay effective. Does your business currently have a multi-layered security strategy beyond antivirus software?
When did you last conduct comprehensive security awareness training for your employees? Are you confident that all your software is up-to-date and patched with the latest security fixes?
Remember, many types of cyber attacks are waiting in the wing to exploit your business. Always be prepared.
